Overview

* Baytex Q3 production rises 1% yr/yr, driven by record Pembina Duvernay output

* Company generated C$143 mln free cash flow, prioritizing debt reduction

* Net income for Q3 was C$32 mln, reflecting a decrease from previous quarters

Outlook

* Baytex expects full-year 2025 production of approximately 148,000 boe/d

* Company anticipates 2025 free cash flow of approximately C$300 mln

* Baytex targets net debt of approximately C$2.1 bln by year-end 2025

Result Drivers

* PEMBINA DUVERNAY - Record production in Pembina Duvernay boosted overall output, up 53% from Q2/2025

* HEAVY OIL GROWTH - Heavy oil production increased 5% over Q2/2025, driven by strong performance at key sites

* LAND ACQUISITIONS - Strategic land acquisitions and property swap in Pembina Duvernay

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$927.64

Petroleu mln

m and

natural

gas

sales

Q3 Net C$32 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)